Himadri Speciality Chemical LtdNSE:HSCL
Current view Q1 2027
Carbon maker steadily shifting from cheap grades to costly ones, which more than doubled its margins, and fresh capacity has restarted volume growth after two capped years. Promoters keep raising their stake. The battery-material bet earns nothing until FY28 and takes on China, and it adds a new venture almost every quarter.
Latest exchange filings last 5 · 5 after Q1 2027
- 16 Sep ’26Himadri Speciality Chemical to meet analysts/investors on 19 September 2026 in Hyderabad. ↗
- 15 Sep ’26Newspaper publication regarding Loss of Share Certificates ↗
- 31 Aug ’26Himadri incorporated WOS ARDENT IMPEX FZCO in Dubai on 31 Aug 2026 with AED 200,000 capital. ↗
- 25 Aug ’26Himadri remitted AUD 16.94 million final tranche, cumulatively holding 18.447 million CCNs in Sicona. ↗
- 10 Aug ’26Allotment of Equity Shares pursuant to Himadri Employee Stock Option Plan 2016 ↗
Exchange filings, with the company's own one-line summary, read off the same page as the figures. Screener publishes only the most recent few, so this is the last 5 — not everything filed since your note, and a quiet-looking list is not proof of a quiet quarter. A filing is marked new when it is dated after the end of the quarter your note covers. Not scored, and not a judgement — a routine repayment notice and a takeover sit in the same list.
AI concall report · Q1 2027
The full earnings-call read behind this view — what management promised, what they delivered, and the earning trigger.
Growth Q1 2027
| Metric | This year vs lastYoY · vs Q1 2026 | vs the quarter beforeQoQ, sequential · vs Q4 2026 | 3-year yearly average3Y CAGR · compounded | 5-year yearly average5Y CAGR · compounded |
|---|---|---|---|---|
| Sales | ▲ +28.1% | +11.2% | +3.8% | +22.7% |
| Operating profit | ▲ +17.6% | +19.0% | +41.8% | +50.9% |
| EPS | ▲ +23.6% | +14.3% | +44.0% | +67.5% |
| PAT | ▲ +27.4% | +9.6% | — | — |
Tinted rows drive the Tier. Tier = the weaker of YoY Sales and YoY PAT growth. Here the weaker is PAT at +27.4%, which is ≥ 20% → Tier 1.
QoQ is sequential, not a trend. For most Indian companies the March quarter is seasonally the largest, so a June-quarter fall against it is a calendar effect. Only the YoY column feeds the Tier.
Multibagger potential
Average60/100
Cheap, and growing fast. Profit per share grew 44% a year, while the price-tag on its earnings actually got smaller. That gap — real growth nobody has paid up for — is exactly what this score looks for.
₹670 → ₹1,340 needs the P/E at 28× — it is 42× today, and has ranged 19× to 69× over the last 5 years. The rest would come from earnings growing as they have.
What you pay for its profitlog scale · 5-year range
Tripling needs 42× — it has traded there — high was 69×.
At ₹608 the price-tag on its earnings reaches the 38× it is being projected toward — the point where being cheap against that yardstick is used up.
Unpaid, but the growth quality is thin. Verify before acting.
How this is calculated
This is arithmetic, not a forecast — Return = ΔEPS × ΔMultiple. It says what would have to be true, not how likely it is, and "earnings keep growing at this rate for three more years" is the assumption doing the most work. This is a large-cap at ₹32,980 cr, so the odds of a re-rate are not fighting its own size.
Growth rate used: 44.0% — the weakest of EPS / Sales / Op-profit from 3-year EPS CAGR. Latest quarter reads 24%.
How it compares with its rivals Bulk Chemicals · 2 shown
It earns 22% on its capital, more than any of them — the next best earns 8%, and it is the cheapest of those shown.
| Company | Price | P/E | Size | ROCE | Profitlast qtr | Saleslast qtr |
|---|---|---|---|---|---|---|
| Himadri Special | ₹661 | 41.8× | ₹33,352 Cr | 22.1% | +26.3% | +28.0% |
| PCBL Chemical | ₹331 | 49.2× | ₹13,022 Cr | 7.8% | +64.8% | +17.0% |
Screener's own peer group, from the request already made for the industry P/E. It serves the industry's largest names by market cap, not companies of a similar size, so treat this as context rather than a like-for-like table; this company is always shown. On a phone the price, size and sales columns are dropped rather than pushed off the edge. Not part of the score.
Business quality to Jun 2026
| Are the margins widening? | yes — widening, and steadily | operating margin 14% → 20% over 3 years |
|---|---|---|
| Did the profit turn into cash? | most of it, with some tied up | 64% last year, 70% over three · free cash flow −₹63 cr, positive in 3 of 5 years |
| Is the growth borrowed? | lightly borrowed | ₹770 cr — 0.16× its own equity (was 0.08×) |
| Is it being collected? | collection is steady | 55 days to collect, up 5 in a year · cash cycle 103 days |
| Who has been buying? | the promoters have held steady | promoters 52.5% (+0.9 in a year), 44.9% → 52.5% over 2.8 years · FIIs 6.8% (+1.6) · DIIs 3.3% (−1.5) · shareholders 4,40,415 → 4,14,141 |
| What does it earn on its capital? | earns a high return on the capital it employs | ROCE 22.1% · ROE 17.8% |
Fetched from the filings, not typed — and deliberately not part of the score. These are the questions the score cannot ask: it reads growth, price and trend, so a company can score well while its profit never becomes cash. Weigh these beside the note, not against the number.
Screener's own checklist not mine, not the score
In its favour
- Company has delivered good profit growth of 73.7% CAGR over last 5 years
Against it
- Stock is trading at 7.10 times its book value
Generated by screener.in from a fixed checklist — not written by me and not an input to the score. It is here as a second machine opinion to weigh against the note; where it disagrees with the view above, the note is the considered one.